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GLASGOW BUSINESS AUGUST 2014


CONTENTS/PRESIDENT


Vic Emery, President president@glasgowchamberofcommerce.com


Freedom of trade is in our genes


6 15


The founding principles of our Chamber of Commerce were forged at a time of economic turmoil and bitter enmity between Britain, France and America. Thankfully, Scotland’s referendum debate has been conducted, on the whole, in a very vociferous and civilised manner. Yes, there have been some harsh and nasty things said on both sides, but freedom of speech and opinion are still cherished by most of us in Scotland.


When our Chamber was formed 13


231 years ago, in the aftermath of the American War of Independence, Glasgow faced desperate challenges. The establishment of the United States of America put an end to the benefits which Glasgow merchants derived from the old and dying mercantile system. The merchants


25 News


Chamber news Chamber chat Glasgow news Partner news Member news New members


Events CROWD


Glasgow Business Awards Inspiring City Awards


Cover image: Shutterstock


6 9


10 12 14


48 17


Past and forthcoming events 18 Forthcoming training


20 23 25


Features GBA winner profile


International trade Glasgow on the rise


Independence referendum Airport takeover City centre focus Meetings venues


Wealth management


Business travel: tips from the jetsetters


Column BIG Talks


22 24 26 28 30 32 35 38


43 47


of Glasgow, out of the ruins of their tobacco business, extended their reach to the West Indies and enlarged their trade with Europe. Many Glasgow businesses went bankrupt and the great commercial houses of Buchanan & Co, and Hastie & Co, failed. The surviving businessmen were involved in the establishment of the Chamber in 1783, the first of its kind in Britain. Glasgow’s merchants turned their attention to capital and industry within Scotland – especially the rise of the cotton industry. Throughout our history we have


been devoted to free trade. We were among those who demanded the abolition of the East India Company, with its monopoly of trade and its private army and navy. The Chamber has consistently


argued the case for the reduction in tariffs, including the Corn Laws. These were all issues in the way of international free trade. I understand that Sir Tom Devine,


our leading Scottish historian, has been asked to write an economic history of Glasgow. His original work on the Tobacco Lords of Glasgow was groundbreaking and I’m sure he will find a wealth of mercantile research involving our former Chamber membership. We also need to appreciate that Scotland’s role in the international slave trade cannot be ignored and needs to be thoroughly and academically explored, so Scots can see what impact this commercial activity had on their nation. From the Chamber’s point of view, a fundamental part of our history is the intellectual argument for free markets and open markets, much of it inspired by Adam Smith. For trade to flourish, merchants need a minimum number of barriers to exist between geographical locations.


So the campaign


for Scottish independence really had to make a strong case that a ‘Yes’ vote would not increase the barriers


for Glasgow companies doing business with


their English neighbours and


overseas. We needed to hear, loud and clear, that there would not be an increase in the commercial hurdles faced by businesses in Glasgow. However, a number of issues have arisen about an increase in barriers: currency, immigration and differential taxes. These are all traditional areas of concern for Chamber of Commerce members, but they have been raised during the debate. The answers remain unclear. Will the constitutional vote enhance or hinder free trade? We still don’t really know. Within the Chamber, we have been discussing this vigorously so that the members now have the ability to make informed decisions. It will be for each and every individual member to vote in their own way – and that is the right thing to do.


Glasgow Business . 3 www.glasgowchamberofcommerce.com


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